John Textor successfully refinances €385m of Lyon’s debt
In an official statement, OL Groupe have confirmed that they have successfully completed the refinancing of €385m of Lyon’s outstanding debts. This refinancing of the club’s debts has allowed OL to pay off their long-term stadium debt following the development of the Groupama Stadium in 2016. Lyon have also been able to pay off the loans they acquired during the Coronavirus pandemic.
Goldman Sachs arranged the refinancing of Lyon’s debts. The debt has been refinanced based on two new principles. The first of these new debt repayments is a financing package for a total package of €320m – amortising over 20 years and at an agreed interest rate of 5.83%. This amounts to 80% of the debts which need to be repaid and is a method unique to French football.
The second debt refinancing sees a figure of €65m raised from internationally-renowned banks. These funds can be repaid over a five-year period. This will be repayable in two different loan types issued at a respective value of €32.5m each.
The refinancing of Les Gones’ debts has enabled Textor to validate the plan agreed upon with the DNCG. Therefore, the monitoring of the club’s finances and transfer restrictions have been lifted and Lyon will be able to recruit freely in the January transfer window.
GFFN | Liam Wraith
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